By Luke Barefoot and Dan Soltman (February 2, 2018, 12:07 PM EST) -- On Jan. 25, 2018, the Ninth Circuit held that Section 1129(a)(10) of the Bankruptcy Code, which requires that to confirm a plan there must be at least one impaired accepting class, applies on a "per‑plan" basis, rather than a "per-debtor" basis. The case is Grasslawn Lodging LLC v. Transwest Resort Properties Inc. et al. (In re Transwest Resort Properties Inc.).[1] The opinion is significant because under a "per-plan" approach, only a single impaired accepting class is required among all debtors covered under a joint plan. In other words, multiple debtors with a joint plan may cram their plan down on all creditors based on a single accepting class, even where the impaired accepting class has claims against different debtors than the crammed‑down class. The Ninth Circuit is the first circuit court to address the "per-debtor" versus "per-plan" issue, and lower courts in the Southern District of New York and District of Delaware remain split on the proper approach.[2]...